Equity Markets Plummet Amid Oil Price Hikes as Bitcoin Holds Firm Near $86K

U.S. equity markets retreated on Wednesday as rising oil prices and government bond yields weighed heavily on investor sentiment.

The Nasdaq Composite dropped approximately 0.9% during trading, while both the S&P 500 and Dow Jones Industrial Average declined roughly 0.5%, according to market data.

This downturn followed consecutive sessions of strength in technology shares and occurred as investors tracked Middle Eastern geopolitical developments and diplomatic efforts between the U.S. and Iran.

Meanwhile, Meta's artificial intelligence-driven momentum persisted with its Muse AI platform generating strong early traction and nearly 3 million downloads across the United States and Canada within its initial 12-day period.

The company's stock price has climbed over 20% since Muse's debut on September 8, contributing approximately $200 billion to Meta's overall market capitalization.